The CEO of an insurance company has issued a stark warning about why lower- and middle-class Americans could be hurt by a Kamala Harris presidency.
Florida-based businessman Shawn Meaike has argued that Harris’s potential tax policies, which have not yet been outlined, would negatively impact small businesses.
“What people don’t understand is what the really ridiculous, significant tax increase proposals mean for all of us, right?” Meaike said. The big money show on Fox.
“When you start looking at these companies now… it sounds great to say, ‘I’m going to tax 1% or I’m going to get this, or I’m going to get just these guys.'”
“At the end of the day, all these restaurants, all these business owners, myself, the profit sharing, what we’re doing… we can’t do it,” added Meaike, who founded the life insurance agency Family First Life, which earned $20 million a year by 2023. ProPublica.
Florida-based businessman Shawn Meaike has argued that Harris’s tax policies, which have yet to be fully outlined, would negatively impact small businesses.
It’s unclear exactly what Harris’ tax proposals will be if she wins a White House term in November, but based on her past policies, business owners will almost certainly take a hit.
‘At the end of the day, the American dream… I don’t want to say the American dream is dead; that’s probably a little bit of an exaggeration.
“But what I can tell you is that it will be really difficult to decide what to do with employees and for employees.”
Meaike, who lives in Boca Raton, Florida, also revealed the kinds of conversations business owners are having on the ground.
“I was with a man yesterday,” Meaike recalls. “He owns several restaurants. I asked him: ‘What are you doing to stay alive?'”
“What are they doing? They’re cutting staff. They’re cutting resources. They’re laying off the valets on the street. They’re laying off the waiters. They’re laying off the guys and girls who deliver the food.”
Meaike launched the marketing firm Family First Life in 2013, and it is now represented by more than 17,000 licensed agents across the United States, according to the company’s website.
She previously worked in real estate and at the State Department of Children and Families for 13 years.
Harris has a history of favoring steeper tax increases on businesses and individuals than Joe Biden, but she previously repeated her promise not to raise taxes on households making less than $400,000 a year.
In 2020, he proposed multiple changes to the tax code, including implementing a four percent “income-based premium” for households earning more than $100,000 to fund his version of “Medicare for All.”
He also favored raising capital gains tax rates to the level of ordinary income tax rates, increasing the corporate income tax rate from 21 percent to 35 percent and expanding the inheritance tax.
Harris also supports the expiration next year of many key parts of former President Donald Trump’s 2017 Tax Cuts and Jobs Act.
Trump after signing the Tax Cuts and Jobs Act on December 22, 2017
Tax Foundation’s findings on the 2017 tax law passed under the Trump administration
The policy, known as the TCJA, included some important provisions that benefited the wealthiest Americans while simplifying individual income taxes and lowering overall tax rates.
Some lawmakers, including many Republicans, want most of the provisions expanded, while many Democrats want only some of them expanded or modified.
It’s unclear exactly what Harris’ tax proposals will be if she wins a White House term in November, but based on her past policies, business owners will almost certainly be affected.
But many share Meaike’s concerns. One pipeline worker recently criticized Harris as a “high-tax, left-wing liberal from San Francisco.”
“Why would anyone with any common sense who is a blue-collar worker even want to look at this woman?” Texas worker Bugsy Allen told Fox News.
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